Sutro Biopharma (NASDAQ:STRO – Get Rating) had its target price lifted by Piper Sandler from $16.00 to $18.00 in a research report released on Tuesday morning, The Fly reports. They currently have an overweight rating on the stock.
Separately, HC Wainwright reduced their target price on Sutro Biopharma from $30.00 to $20.00 and set a buy rating on the stock in a research note on Wednesday, November 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Sutro Biopharma currently has a consensus rating of Buy and a consensus target price of $19.00.
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Sutro Biopharma Price Performance
STRO opened at $7.26 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.95 and a current ratio of 5.95. Sutro Biopharma has a 52-week low of $3.33 and a 52-week high of $11.25. The stock has a market capitalization of $417.27 million, a PE ratio of -2.80 and a beta of 0.93. The stock's 50 day moving average price is $7.49 and its 200-day moving average price is $6.47.
Sutro Biopharma (NASDAQ:STRO – Get Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.22). Sutro Biopharma had a negative net
margin of 175.85% and a negative return on equity of 53.85%. The business had revenue of $25.15 million for the quarter, compared to analysts' expectations of $11.35 million. On average, equities research analysts predict that Sutro Biopharma will post -2.59 EPS for the current year.
Institutional Investors Weigh In On Sutro Biopharma
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STRO. State Street Corp grew its stake in Sutro Biopharma by 66.1% in the first quarter. State Street Corp now owns 2,642,486 shares of the company's stock worth $21,721,000 after purchasing an additional 1,051,649 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Sutro Biopharma in the second quarter worth $3,778,000. Point72 Asset Management L.P. purchased a new stake in shares of Sutro Biopharma in the third quarter worth $3,946,000. Parkman Healthcare Partners LLC grew its stake in shares of Sutro Biopharma by 272.5% in the third quarter. Parkman Healthcare Partners LLC now owns 687,335 shares of the company's stock worth $3,815,000 after acquiring an additional 502,817 shares during the last quarter. Finally, Rubric Capital Management LP grew its stake in shares of Sutro Biopharma by 55.6% in the third quarter. Rubric Capital Management LP now owns 1,400,000 shares of the company's stock worth $7,770,000 after acquiring an additional 500,000 shares during the last quarter. 87.64% of the stock is owned by hedge funds and other institutional investors.
About Sutro Biopharma
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Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis and site-specific conjugation platform, XpressCF+.The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.
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